Senior Housing News August 1, 2024
Earlier this week, Welltower announced an additional $1.1 billion in new investments, primarily in senior housing – but it was another piece of news in the company’s 2Q24 earnings that caught my attention.
During the REIT’s call with investors and analysts Tuesday, management revealed that the company has made a strategic decision to focus more on lower-acuity assisted living residents.
At the heart of the company’s decision is a belief that assisted living residents lower on the acuity scale can create better net operating income (NOI). Although higher-acuity residents pay higher rates, the care they receive is also costly and staffing is limited, according to Welltower Executive Vice President and COO John Burkart.
Welltower is still in the early stages...
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